The Jakarta Post
BALIKPAPAN, East Kalimantan: State-owned oil and gas company Pertamina says it will spend Rp 2 trillion to build the world’s second-largest centralized crude oil terminal (CCT) in Lawe Lawe, Penajam, East Kalimantan.
“Thirty-two tanks will be built in total that can hold 25 million barrels of crude oil,” Iriawan Yulianto, General Manager of Balikpapan Refinery Plant, said on Sunday. Construction on the 1,100-hectare facility is set to start in 2014.
The CCT functions will store crude oil for smaller plants across the country to alleviate price shocks in anticipation of shortages.